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Thread: Bonus Withdrawal Puts Bankers in "Malaise"

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    Bonus Withdrawal Puts Bankers in "Malaise"

    Looks like bonuses are down at Wall Street and some of the 1 percenters are having a rough go at it. Food Stamps anyone?

    "Andrew Schiff was sitting in a traffic jam in California this month after giving a speech at an investment conference about gold. He turned off the satellite radio, got out of the car and screamed a profanity.

    "I'm not Zen at all, and when I'm freaking out about the situation, where I'm stuck like a rat in a trap on a highway with no way to get out, it's very hard," Schiff, director of marketing for broker-dealer Euro Pacific Capital Inc., said in an interview.

    Schiff, 46, is facing another kind of jam this year: Paid a lower bonus, he said the $350,000 he earns, enough to put him in the country's top 1 percent by income, doesn't cover his family's private-school tuition, a Kent, Connecticut, summer rental and the upgrade they would like from their 1,200-square- foot Brooklyn duplex.
    [...]"
    Bonus Withdrawal Puts Bankers in "Malaise" - Yahoo! Finance

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    Re: Bonus Withdrawal Puts Bankers in "Malaise"

    Boo hoo! I'd say my heart bleeds peanut butter for him (not), but pb is too expensive right now. So, I'll change that to mayonaise.
    "The measure off intelligence is the ability to change." Albert Einstein

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    Re: Bonus Withdrawal Puts Bankers in "Malaise"

    Quote Originally Posted by pbrauer View Post
    Looks like bonuses are down at Wall Street and some of the 1 percenters are having a rough go at it. Food Stamps anyone?

    "Andrew Schiff was sitting in a traffic jam in California this month after giving a speech at an investment conference about gold. He turned off the satellite radio, got out of the car and screamed a profanity.

    "I'm not Zen at all, and when I'm freaking out about the situation, where I'm stuck like a rat in a trap on a highway with no way to get out, it's very hard," Schiff, director of marketing for broker-dealer Euro Pacific Capital Inc., said in an interview.

    Schiff, 46, is facing another kind of jam this year: Paid a lower bonus, he said the $350,000 he earns, enough to put him in the country's top 1 percent by income, doesn't cover his family's private-school tuition, a Kent, Connecticut, summer rental and the upgrade they would like from their 1,200-square- foot Brooklyn duplex.
    [...]"
    Bonus Withdrawal Puts Bankers in "Malaise" - Yahoo! Finance
    Another class warrior strikes again.
    "He who does not think himself worth saving from poverty and ignorance by his own efforts, will hardly be thought worth the efforts of anybody else." -- Frederick Douglass, Self-Made Men (1872)
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    Re: Bonus Withdrawal Puts Bankers in "Malaise"

    Quote Originally Posted by pbrauer View Post
    Looks like bonuses are down at Wall Street and some of the 1 percenters are having a rough go at it. Food Stamps anyone?

    "Andrew Schiff was sitting in a traffic jam in California this month after giving a speech at an investment conference about gold. He turned off the satellite radio, got out of the car and screamed a profanity.

    "I'm not Zen at all, and when I'm freaking out about the situation, where I'm stuck like a rat in a trap on a highway with no way to get out, it's very hard," Schiff, director of marketing for broker-dealer Euro Pacific Capital Inc., said in an interview.

    Schiff, 46, is facing another kind of jam this year: Paid a lower bonus, he said the $350,000 he earns, enough to put him in the country's top 1 percent by income, doesn't cover his family's private-school tuition, a Kent, Connecticut, summer rental and the upgrade they would like from their 1,200-square- foot Brooklyn duplex.
    [...]"
    Bonus Withdrawal Puts Bankers in "Malaise" - Yahoo! Finance
    Onion worthy...

    This dude can eat a butt if hes real. If he makes that much money hes a weakling for leaning on the networking from that private education for his kids.
    Send them to a chinese kung-fu camp of 50,000 for a summer. His kids will benefit much more.

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    Re: Bonus Withdrawal Puts Bankers in "Malaise"

    Bernanke has heard the complaints and is hinting that he might help them out even more.

    Bernanke strikes a downbeat tone - FT.com

    When he does, many of those complaining will cheer.
    Last edited by 1Perry; 03-01-12 at 09:49 AM.

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    I am sure the poor guy won't starve.

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    Re: Bonus Withdrawal Puts Bankers in "Malaise"

    I don't care how much you make, relying on a bonus to survive is just ridiculous.

    On one hand, the guy doesn't have much room to complain when he's better off than many.
    On the other hand, the guy is reinvesting a lot of his money back into the economy through that tuition, the mortgages, and into the construction industry with remodels, so his not having that money to spend does hit the economy negatively as well. I'd villify him more if he were whining that he couldn't put the money into an off shore account or hoard it away in investments that don't spur a lot of growth.

    Sure, he should stop whining, but honestly? I don't find him any more repugnant than I find the 99%er who was whining because he had to pay child support and couldn't afford to repay 130k in student loans he accrued while receiving a bachelor's degree in women's studies.
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    Re: Bonus Withdrawal Puts Bankers in "Malaise"

    Quote Originally Posted by tessaesque View Post
    Sure, he should stop whining, but honestly? I don't find him any more repugnant than I find the 99%er who was whining because he had to pay child support and couldn't afford to repay 130k in student loans he accrued while receiving a bachelor's degree in women's studies.
    Holy ****ing ****!

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    Re: Bonus Withdrawal Puts Bankers in "Malaise"

    please do not make him relinquish his summer rental in kent

    let's hope the congress will once again come to the rescue and reduce social security benefits to be able to fund another bailout for these fellows facing hard times
    we are negotiating about dividing a pizza and in the meantime israel is eating it
    once you're over the hill you begin to pick up speed

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    Re: Bonus Withdrawal Puts Bankers in "Malaise"

    "People who don't have money don't understand the stress," said Alan Dlugash, a partner at accounting firm Marks Paneth & Shron LLP in New York who specializes in financial planning for the wealthy. "Could you imagine what it's like to say I got three kids in private school, I have to think about pulling them out? How do you do that?"
    "I can't imagine what I'm going to do," Schiff said. "I'm crammed into 1,200 square feet. I don't have a dishwasher. We do all our dishes by hand."
    LOL... are these guys for real.

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